Debate opinions
My friend and I are having this debate. He has a 4plex under contract in Macon, Ga, the outside looks amazing, and the price he has it under contract for almost ensures that it'll cash flow as soon as he moves in (he's house hacking and one of the units is currently vacant). The debate we're having is that all the units need to be renovated and the appliances need to be upgraded. The walls are plaster, the ceiling in one of the kitchens is tile, carpet needs to be torn up and replaced, really the units are just all around dingy. I'm trying to convince him to take time to measure out everything and compile a list of the materials and appliances now before we move in and start renovating before he actually purchases the property. He's telling me that it's fine and he'll just make the list and price check when we move in and get ready to renovate, I'm interested to know your opinions.